$5.63 Billion in Sales Expected for Macy’s Inc (NYSE:M) This Quarter

Wall Street brokerages predict that Macy’s Inc (NYSE:M) will post sales of $5.63 billion for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Macy’s’ earnings. The highest sales estimate is $5.76 billion and the lowest is $5.56 billion. Macy’s reported sales of $5.57 billion in the same quarter last year, which would indicate a positive year over year growth rate of 1.1%. The firm is expected to report its next earnings report before the market opens on Wednesday, August 14th.

According to Zacks, analysts expect that Macy’s will report full year sales of $25.10 billion for the current financial year, with estimates ranging from $24.75 billion to $25.76 billion. For the next year, analysts anticipate that the firm will report sales of $25.04 billion, with estimates ranging from $24.31 billion to $25.83 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that that provide coverage for Macy’s.

Macy’s (NYSE:M) last released its quarterly earnings data on Wednesday, May 15th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.11. The business had revenue of $5.50 billion during the quarter, compared to analysts’ expectations of $5.52 billion. Macy’s had a return on equity of 20.66% and a net margin of 4.43%. The business’s quarterly revenue was down .7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.48 EPS.

A number of equities research analysts have commented on the company. UBS Group set a $25.00 target price on Macy’s and gave the company a “hold” rating in a report on Friday, May 17th. Zacks Investment Research upgraded Macy’s from a “sell” rating to a “hold” rating in a report on Thursday, May 16th. Goldman Sachs Group upgraded Macy’s from a “sell” rating to a “neutral” rating and decreased their price objective for the stock from $23.00 to $21.00 in a report on Thursday, May 16th. Finally, Deutsche Bank raised their price objective on Macy’s from $27.00 to $28.00 and gave the stock a “hold” rating in a report on Thursday, May 16th. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $26.58.

Shares of M traded up $0.07 on Friday, reaching $21.28. The stock had a trading volume of 91,881 shares, compared to its average volume of 6,450,006. The stock has a market cap of $6.96 billion, a price-to-earnings ratio of 5.09, a PEG ratio of 0.97 and a beta of 0.54. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.42 and a quick ratio of 0.32. The company’s 50-day moving average is $21.89. Macy’s has a twelve month low of $20.02 and a twelve month high of $41.99.

In other news, President Harry A. Lawton III purchased 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The stock was acquired at an average cost of $21.37 per share, for a total transaction of $106,850.00. Following the completion of the purchase, the president now owns 31,038 shares of the company’s stock, valued at $663,282.06. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Paula A. Price sold 1,189 shares of Macy’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $21.30, for a total value of $25,325.70. The disclosure for this sale can be found here. Insiders acquired 20,000 shares of company stock worth $432,950 over the last three months. 0.55% of the stock is currently owned by corporate insiders.

A number of large investors have recently bought and sold shares of the stock. Geode Capital Management LLC raised its stake in shares of Macy’s by 7.4% in the fourth quarter. Geode Capital Management LLC now owns 5,150,836 shares of the company’s stock worth $153,359,000 after purchasing an additional 355,028 shares during the last quarter. Municipal Employees Retirement System of Michigan acquired a new position in Macy’s during the 4th quarter worth $399,000. National Pension Service grew its stake in Macy’s by 11.5% during the 4th quarter. National Pension Service now owns 458,836 shares of the company’s stock worth $11,535,000 after purchasing an additional 47,397 shares in the last quarter. Millennium Management LLC grew its stake in Macy’s by 1,469.0% during the 4th quarter. Millennium Management LLC now owns 116,044 shares of the company’s stock worth $3,456,000 after purchasing an additional 108,648 shares in the last quarter. Finally, APG Asset Management N.V. boosted its position in shares of Macy’s by 7.6% during the 4th quarter. APG Asset Management N.V. now owns 1,458,752 shares of the company’s stock worth $38,002,000 after acquiring an additional 103,000 shares in the last quarter. Institutional investors and hedge funds own 87.39% of the company’s stock.

Macy’s Company Profile

Macy's, Inc, an omnichannel retail organization, operates stores, Websites, and mobile applications. The company sells a range of merchandise, including apparel and accessories for men, women, and children; cosmetics; home furnishings; and other consumer goods. As of April 1, 2019, it operated approximately 680 department stores under the Macy's and Bloomingdale's names; and 190 specialty stores, such as Bloomingdale's The Outlet, Bluemercury, Macy's Backstage, and STORY in 43 states, the District of Columbia, Guam, and Puerto Rico.

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Earnings History and Estimates for Macy`s (NYSE:M)

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